The actor reportedly passed away at Evercare Hospital in Lagos State after a protracted battle with illness.
Recall that the 62-year old had battled health issues that led to the amputation of his two legs.
He was diagnosed with diseased blood vessels.
His family had solicited funds from Nigerians, saying the actor “had constant clotting of the blood in his leg (diseased blood vessels) and other health challenges posing a risk to his life, therefore the need for the amputation.”
A close associate of the family confirmed to a TV Channel that the ace actor died on Saturday afternoon after he was moved to the Intensive Care Unit (ICU) at Evercare Hospital, Lekki a few days ago.
Mr Ibu, 62, died of cardiac arrest after he had a relapse about a week ago and was rushed to the Lagos-based hospital.
Also, the President of the Actors Guild of Nigeria, Emeka Rolla, confirmed the actor’s death.
Last year, the actor underwent surgery to remove one of his legs after soliciting help and prayers from fans.
Fans and colleagues of Mr Ibu have since been effusive with tribute in honour of the funnyman.
Mr Ibu’s death followed the passing of his colleague, Tolani Quadri Oyebamiji, popularly known as Sisi Quadri, who died on Friday and was buried on Saturday in his hometown, Iwo, in Osun State.
